Banco Aliado obtained a universal banking license from the National Banking Commission in 1992. This license allows Banco Aliado to conduct banking operations both in Panama and abroad. Banco Aliado is 100%-owned by six Panamanian shareholders. It ranks 15th among banks with a general license (December 2016).
The credit line allocated by PROPARCO will be earmarked to finance renewable energy projects in Panama. It will allow Banco Aliado to develop its lending activity in the sector and meet increasing needs for long-term financing.
This operation will contribute to increasing Panama’s power generation capacity, in a context of increasing demand. It will contribute to diversifying the energy mix in a country which is still largely dependent on fossil fuels. It will thereby have a positive impact on the climate by contributing to reducing greenhouse gas emissions in the country. More generally, it will encourage the banking sector to support green investments.